Insurance Age

Jersey will not implement Solvency II

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    • Martin Friel

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Jersey’s Financial Service Commission has issued a statement clarifying that it does not intend to implement Solvency II.

The Commission said that it has invited input from all those members of the Jersey insurance sector that would be affected by changes in regulatory capital requirements applied in the Island and that this dialogue did not identify any regulatory or other reason for implementing Solvency II in Jersey.

“Whilst the Commission will continue to monitor the development of Solvency II, it will predominantly focus on changes to the international standards set by the International Association of

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